Looking at GBPUSD we see price making retracement on the Fibonacci, but I would like to see price retracing back into the zone between 62% and 79% levels. Price might not reach those levels as looking at the COT reports we can see another big chunk of shorts being close indicating a push to the upside for the British Pound. Lets keep a close eye on this pair on the lower time frames and see where the reversal will take place for a nice long position this week.